In Brief.

San Francisco-based Pacific Bank reported a net loss of $4.3 million in the second quarter.

The bank also announced that it is hiring investment bankers Keefe, Bruyette & Woods to assist it in raising $25 million in capital by the end of the year.

"We are confident that we will meet our capital requirements, said chairman Ned Dean.

Mr. Dean also separately announced he would relinquish the title of chief executive to Leonard W. Busse, a former Continental Bank Corp. executive brought in as chief operating officer earlier this year.

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The increasing adoption of virtual card payments by accounts payable departments has created an unex­pected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables. The root of the problem is that most suppliers rely on a manual approach to processing e-mailed virtual card payments. Suppliers are forced to balance their organization’s need for operational efficiency and control with rising customer demand to pay with a virtual card. But a new breed of tech­nology enables suppliers to process virtual card payments straight-through, addressing the needs of buyers and suppliers. This paper details the growth of electronic business-to-business (B2B) payments, shows how manual approaches to processing virtual card payments cause friction in accounts receivables, describes a way to process virtual card payments straight-through, and highlights the benefits of friction­less payments.